US inflation at 2.7% meets expectations, prompting record highs in Nasdaq and S&P 500.

From Investing.com: 2024-12-12 05:49:00

Inflation in the United States rose to 2.7% y/y in November, meeting expectations, with key components like housing inflation and core services CPI easing. Expectations of a 25-bps rate cut by the Fed next week are high. Nasdaq and S&P 500 hit all-time highs on Wednesday, while Asian stocks rose. SNB surprised with a 50 bps rate cut, weakening the Franc, ahead of the expected ECB decision. Yen weakened as BoJ rate hike odds declined. Aussie and oil prices climbed on strong Australian employment data and potential sanctions on Russian and Iranian oil.



Read more at Investing.com: Nasdaq Hits Record as US CPI Seals December Cut; ECB Up Next